California Leaders Yet To Reach Deal To Keep Billionaire Tax Off The Ballot. Time Is Running Out
The measure could raise about $100 billion for healthcare and other programs as Newsom rejects any wealth tax and both sides face a June 25 deadline.
- Service Employees International Union-United Healthcare Workers West offered to reduce its proposed 5% billionaire wealth tax to 2% before the June 25 deadline to remove the measure from California's November ballot.
- Governor Gavin Newsom rejected the compromise, calling it 'poorly designed,' while SEIU-UHW argues the tax revenue is essential to backfill roughly $100 billion in federal healthcare cuts affecting Californians.
- Meanwhile, Top Democrats announced a compromise between Uber and Consumer Attorneys of California, pulling competing ballot initiatives through Senate Bill 623 that caps medical cost recoveries in lien cases.
- Senate Bill 417, an $11.25 billion affordable housing bond, secured agreement from lawmakers and Newsom, aiming to help more than 40,000 people buy homes and support construction jobs if voters approve it this November.
- State leaders face a Thursday deadline to finalize ballot measure withdrawals, with time running short before June 25 when removal from the November ballot becomes impossible.
23 Articles
23 Articles
California Debating Billionaire Tax
A proposal to impose a one-time tax on California billionaires remains the subject of intense debate as state leaders work to determine its future. The initiative has gathered enough signatures to qualify for the November ballot, but supporters and opponents continue to battle over its potential impact. In an effort to broaden support, advocates reduced the proposed tax rate from five percent to two percent. Backers, including a healthcare worke…
California has 200+ billionaires. Here's who'll pay if the state's wealth tax passes.
Palmer Luckey, Mark Zuckerberg, and Jensen Huang are among the billionaires who could be affected by a California wealth tax.Patrick T. Fallon/AFP/Getty Images; Jeff Bottari/Zuffa LLC/Getty Images; Patrick T. Fallon/AFP/Getty ImagesCalifornia has a lot of billionaires, more than any other state and more than most countries. So a proposed wealth tax on its billionaires could be a windfall.Under the Billionaire Tax Act, California residents with a…
Hanford Sentinel
The Lawton ConstitutionCalifornia lawmakers weigh Uber, Consumer Attorneys compromise ahead of deadline
The Legislature will consider a proposed bill to execute a compromise Uber and the Consumer Attorneys of California reached last week setting aside competing ballot measures to work on safety legislation around ride-hailing companies. Senate Bill 623, sponsored by Sen.…
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